UChain: The Ecosystem Of Data Sharing

royalt123 (42)in #blockchain • 6 years ago (edited)

Today I would be reviewing a platform with you that helps solve the present challenges of data abuse and trust in our global world. You will agree with me that your data is you because anyone that has access to your data is likely going to know about your personal/private information which includes your credit card details, bank information e.t.c which is definitely not healthy at all. However, this problem of trust and data abuse can be solved by UChain digital platform.

What is UChain?

UChain is a decentralized platform which is based on shared data consumption to develop a system for the safety of its user. It was developed so as to reduce the cost of financial transactions. UChain enables participants of the ecosystem to buy their resources from the manufacturers without the interference of a third party system; this enables costs effectively by an average of 20% to everyone on the ecosystem. UChain will enable the issuance of a credit card for a user, which can record the total transaction history made so far. It will help to create such a system of transparency relationship between developers and buyers. Now, the developers can verify the actions of their buyer, rate the level of trust on the credit passport.

Furthermore, the UChain will use the best protection standard for the personal data of its users. The user's data will be documented in the blockchain, with the users having their unique key to their data bank. This will prevent information leak of their private life to the public.

Advantages of UChain

• It is a data sharing ecosystem which allows everyone to have their data truly secure from data theft.
• It creates room for trust and transparency for every of its user. This will help the consumer gave a sense of belonging on the platform.
• It is a decentralized system built on blockchain technology, protecting user data in a more advanced method.
• Protecting the user’s data and ensuring that the data is well secured by using the decentralized platform of the blockchain.
• No need for intermediaries or third paying system.

Token Economics

The official token of UChain platform is the UCN token. It’s the utility token of the platform with which operations in the ecosystem are carried out. The UCN use case is unarguably unique and can be seen in the image below.

The platform also has a token called the UCP which cannot be exchanged or traded. It’s just like UCN but comes with a voting power, users who want UCP can get it by locking their UCN. Also, those who in turn hold UCP for a long time would receive UCN rewards.

It’s should be noted however that Uchain had its token sale(Private and presale) and was able to raise 35,000 ETH. The Crowdsale was therefore canceled and replaced with a 5 weeks community rewarding program which is on going. The rate during the concluded token private and presale are:

Private sale: 1 ETH = 7500 UCN - 50% locked for 6 months

Presale: 1 ETH = 5750 UCN - 750 UCN locked for 3 months

Partners

UChain is in close partnership with a lot of well-established firms. It’s in an exclusive partnership with U.B Group holdings, it’s a world leading internet organization that focuses on shared travel. Other partners and investors include:

Team

The team lead by the founder Ian Yu comprises of widely experienced and brilliant individuals across their various fields. A look at the team's credentials and you could already feel the enormous potentials that lies abound. Full information about the team can be seen in the white paper.

Roadmap

Conclusion

Most developed countries across the world had to see the underneath potential that blockchain technology is helping the economic system of our world due to its solution enabled it to bring to the various sector of the world ranging from data, security, sports etc. UChain ecosystem mainly developed to help create the unique blockchain network based on the system, that can really bring a solution to the world challenges in various aspects.